What is Bitcoin?

Bitcoin is a digital currency (also known as a cryptocurrency) that was created in 2009 by an unknown person or a group of people using the alias Satoshi Nakamoto. It’s a type of currency that is completely virtual.

Bitcoin is decentralized and runs on blockchain, which means there’s no middle involved in Bitcoin transactions - no banks, no fees. Bitcoin can be used to book hotels on Expedia, shop for furniture on Overstock, buy Xbox games, bet on sports or play on Bitcasino.io.

Why use Bitcoin?

Because of its decentralization and blockchain! As no bank, government or person controls Bitcoin, Bitcoin transactions are anonymous, with lower fees and faster transaction times.

Unlike regular money transfers, Bitcoin transactions never take more than a few minutes or even seconds, no matter how large the sum is, or where the user is located. Fees are also considerably lower, never being more than just a few cents. Chargebacks are not possible with Bitcoin, making fraud almost impossible.

Buying Bitcoins

Bitcoin exchange sites are a more popular way for buying, selling and trading Bitcoins. These sites act as marketplaces, which in essence are currency exchanges, that allow people to buy or sell Bitcoins using different currencies. Coinbase is a leading Bitcoin exchange site, along with Bitstamp and Bitfinex.

Find out more about Bitcoin in the Bitcoin Breakdown!

Donate Bitcoins to the Wacken Foundation

Join Bitcasino, one of Wacken World Wide’s main sponsors, in raising funds for the Wacken Foundation!

Donate to the Wacken Foundation by sending Bitcoins to this wallet: 3KNPFDWJmbvfip65oR8BbvcLxjSE5g3ibK